Raymond James Appoints David De Luca Head of Global Equities
ST. PETERSBURG, Fla. – Raymond James has hired veteran equities professional David De Luca for the newly created role of Head of Global Equities. He will be based in the firm’s New York office.
De Luca will be responsible for all U.S. and European Institutional Sales, Equity Research and Equity Trading. He will report to Jeff Trocin and Jim Bunn, co-heads of Global Equities and Investment Banking. He comes to Raymond James from Vesey Street Capital Partners, a private equity firm he joined in late 2016. Prior to that, De Luca spent more than two decades in Institutional Equity Sales: five years with Merrill Lynch, 11 years with Lehman Brothers (and its successor firm Barclays) and, most recently, six years with Morgan Stanley.
During his tenure at Morgan Stanley, De Luca headed U.S. Equity Sales in New York and other regions, as well as several other businesses within the Equities Division. He developed and implemented processes that helped to substantially grow equities revenues and improve overall key account rankings. He was instrumental in developing processes to monetize research, corporate access and other aspects of the advisory relationship; training and hiring sales people; partnering with equity research to improve the firm’s product management effort; and refining the account review process. Over the course of his career, De Luca covered many of the largest and most successful hedge funds and asset managers in the world. He has also played a key leadership role in improving workplace diversity and inclusion on Wall Street.
“David’s passion for building and maintaining extremely close client relationships and his organized development and support of professionals on his teams, really drew us to him,” said Bunn. “His broad experience in private equity and institutional equity sales, as well as his track record of implementing revenue-producing processes wherever he worked, were key factors in our decision to appoint him to this important new role.”
“We have created this role and selected David to fill it for several strategic reasons,” added Trocin. “Most importantly, as the Research, Sales & Trading businesses have become increasingly and intensely competitive, and with regulatory and operating pressures also increasing, adding a talented, experienced senior manager focused exclusively on coordinating our broad capabilities and efforts became an imperative. This hire also underscores our very strong commitment to capturing additional market share and growing an even more successful Equities business. We are delighted to have him join our team.”
“Raymond James has a strong, client-focused culture,” said De Luca. “Its leading equity research, sales and trading efforts, along with the other strengths of a top investment bank, position the firm for even greater success. I’m thrilled and honored to join the firm.”
De Luca received a B.A. from Brown University, where he was elected to Phi Beta Kappa; a Master of Science degree from the London School of Economics; and a J.D. from Columbia Law School. He was an associate at the New York law firm of Simpson, Thacher & Bartlett, but a passion for stocks and investing drew him to make the switch to equity sales in 1994.
About Raymond James Financial, Inc.
Raymond James Financial, Inc. (NYSE: RJF) is a leading diversified financial services company providing private client group, capital markets, asset management, banking and other services to individuals, corporations and municipalities. The company has approximately 7,500 financial advisors in 3,000 locations throughout the United States, Canada and overseas. Total client assets are $750 billion. Public since 1983, the firm is listed on the New York Stock Exchange under the symbol RJF. Additional information is available at www.raymondjames.com. Raymond James & Associates, Inc., member New York Stock Exchange/SIPC.